Description

The growth outlook for the Middle East countries in Q3 2017 was somber amid burgeoning geopolitical crisis and ongoing low oil prices. The Saudi Arabian economy continued deterioration in 2017 registering negative growth rates in Q1 and Q2 2017 owing to The Organization of the Petroleum Exporting Countries (OPEC) agreement on curbing oil production. Growth in the non-oil sector might help the country register positive growth in Q3 2017. However, the United Arab Emirates is expected to continue growth resilience supported by a strong non-oil growth amid oil production cuts. Qatar is facing weakening of activities, sharp fall in imports, and dampened investor sentiment owing to the rift that led countries in the gulf cut diplomatic and trade ties with the country. However, the country’s outlook for the remaining months is expected to improve, driven by the unaffected hydrocarbon sector. Algerian economy is largely affected by the low oil prices, poor industrial production, high current account deficits, and limited capital inflows.
Country Coverage – Emerging Middle East and Africa
·     Saudi Arabia
·     The United Arab Emirates
·     Egypt
·     Algeria
·     Nigeria
·     Qatar
·     Israel

Year, Quarter and Month Coverage
·     Yearly Data: 2012 – 2021
·     Quarterly Data: Q1 2012 – Q1 2019
·     Monthly Data: January 2012 – September 2017